A sum of Rs . 2600 is lent out in two part in such a way that the interest on one part at 10% for 5 years is equal to that on another part at 9% for 6 years. The sum lent out at 10% is?
Correct Answer: Rs. 1350
Explanation:
Let the money at 10% be Rs. P, Then the money at 9% is Rs. (2600 - P )
∴ (P x 10 x 5)/100 = [(2600 - P ) x 9 x 6]/100
or 104 x P = 2600 x 54
or P = (2600 x 54) / 104 = Rs.1350
